Many people today are turning to eBay to sell those products they no longer want or need. If done right, selling on the hugely popular online warehouse can send dollars streaming toward your bank account. If done wrong, though, you’ll only waste your time for little payout.

Here are six tips to selling effectively on eBay.

1. Make sure the price is right

When setting your initial bid for an item, even if it’s a treasured family heirloom, be sure not to set too high of a price. An initial bid requirement that is too high tends to scare away many potential customers.

2. Good photos of your items are key

You want to showcase that antique chair or retro board game. You can’t do this with dark or blurry photos. Make sure your photos are large enough to show off your item’s special features, and include shots from multiple angles.

3. Do research before listing your item

If you’re selling your prized comics collection, do an eBay search to see what similar comics are selling for. If you set your price too low, you’ll lose money on your sale; if it's too high, you’ll drive away potential bidders.

4. Write an enticing description

Make sure to list all of your item’s best attributes in your description. If your figure of Luke Skywalker still comes with a working light saber, make sure to highlight that point. The audience you are targeting will appreciate it.

5. Time your sale just right

It’s important that your sale ends at the right time. Often, multiple bids come in the waning minutes. If your sale is scheduled to end when many of your potential buyers are sleeping, you might lose out on a higher-priced sale.

6. Earn a good eBay reputation
Sellers and buyers on eBay earn positive reputation points for paying on time and sending items out on time. Buyers are more inclined to purchase an item from a seller with a good reputation.

Sources: eBay, Mahalo

SIDEBAR

Five golden rules to know for safe trading on eBay

1. Check the product details thoroughly before buying. (If it sounds too good to be true, use your own judgement.)